Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Well, the problem with debt deflation is that it kills credit and this kills the "real" economy. So it is "our" problem, too, even if indirectly.

I don't see why there would have to be no way out of stagflation this time around.

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Wed Mar 5th, 2008 at 04:43:39 PM EST
[ Parent ]
My point was not comprehensive; it was just looking at the immediate relationships. It's almost always "us" that face the problems ultimately.

As to John Williams' comment, I was just musing. Actually, I was amused that he would entertain the idea of co-ops or regulation, given his basic philosophy. Then he was sort-of emphatic that we were submerged in quick-shit. No, I don't agree with him about the future - just the present.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Wed Mar 5th, 2008 at 07:20:49 PM EST
[ Parent ]


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